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Archive for the 'Planning' Category

The 3 Key Success Traits of Millionaires

Three Qualities Millionaire’s build their Philosophy on a backbone of:

  • Mastery
  • Success
  • Charity

Let me explain in more detail. Mastery refers to continual self-improvement, mastery of oneself; being as financially successful as possible, building vast wealth; and assisting others less fortunate than oneself, being philanthropic.
The potent nature of mastery, success and charity are found in
these three highly empowering character traits common to all

Millionaires:

#1 They LEARN… increasing their treasure house of knowledge
through continual study and mastering life principles through
self-advancement. They seek personal mastery.

#2 They EARN… being as financially successful as possible to
have the wherewithal to make a constructive impact in this
world. They are purpose driven.

#3 They RETURN… giving back to society and their fellow
humans through charitable donations and benevolent deeds.
They enjoy empowering others.

There is so much more to being wealthy than just
being a person who amasses a million dollars and who is known
simply as a millionaire. The accumulation of one million dollars,
or more, is just a sign that a person (assuming it was done legitimately) is living their life
by the high standards they impose impose themselves.

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A Credit Check on Your Balance

When we go to the bank for a loan they look at our debt ratio by calculating how much we spend on housing, how much we spend using credit cards, etc. Depending on the percentages (and of course, by our credit rating) they agree or don’t agree to lend us the money we requested.
If you were to take one week and calculate your percentage for:

  • Time spent at work
  • Time spent with your family and friends
  • Time spent improving yourself (whether by taking a course or reading a book, etc.)
  • Time spent relaxing
  • Time spent sleeping

What would your ratio be? Would you say you had a balanced life?

To keep our credit in good standing, we need to ensure we keep an eye on the percentages of where our money is being allocated. If we don’t do this, we could end up with not being able to borrow money. The same principle applies to our time. Are we allocating our time in the right percentages? At times, it is difficult to keep a proper balance in our lives. But, over time, an improper balance will lead to problems such as:

  • too much time at work leads to burn out
  • too much time with family and friends can cause anxiety with your work
  • too much time improving yourself will leave little time to apply what you have learned
  • too much time relaxing can lead to issues with your work; and
  • too much time sleeping can cause all kinds of problems!

I could flip every one one of these points and comment instead on “not enough time”. But, I think you understand what I am driving at. It is balance; we need it. The sad part is that some people pay more attention to their credit than they do to their own balance in life!

Stop and assess your ratio.
Do you have a life balance?

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Are You Willing To Accept A Higher Altitude of Flying?

All of us have got dreams we aspire to attain in our lives. These
dreams come from people who inspire us. We may dream of
making $15,000 a month, owning a sports car and living in a
million dollar mansion. At the same time, based on our beliefs,
we also have what I call our ‘Altitude of Acceptance’.
This Altitude means that though you may
aspire to earn $20,000 a month, you are willing to accept
earning $2000 a month. Although you would love to live in a
million dollar house, you are quite willing to settle for a small
apartment. Although you would love to be at an ideal weight of
72kg, you are willing to live life at 90kg.

Our self-image is what determines our level of expectation
and level of acceptance in life.

Would you like to make a guess which level we would tend
most to gravitate towards? That’s right. We always get what we
are willing to accept.

Unless we raise our acceptance levels, we will never do what is
necessary to achieve our goals. So, for example if you want to
make more money, you have to raise your standards of what you
are willing to accept.

Now, consider what influences our level of acceptance? Why
is one person willing to accept a lifestyle based on $3000 a
month while another has set an acceptance level triple that
amount?
Have a think about it!

I would argue that this altitude has been influenced by family,
friends and our environment. The people whom we spend most
of our time with define the standards we measure ourselves
against.

Lets take an extreme example: Tiger Woods.

He has very often been heard to say, ‘Why go in to
play a tournament unless you are going to win?’ This is why he
has achieved the most number of wins in a season and is ranked
the world number one. His level of acceptance is victory, and nothing less!
He wants to set records, beat the best and be the best that ever lived

And he does whatever it takes to continually cruise at this altitude……
a true peak performer like Tiger continually refines the engine of is plane,
gets regular engineering check ups… which enable him to chase cruising at higher and higher altitudes.

What’s your Altitude?

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Should or MUST: Asses your goals

Are your goals a ‘Must’ or a ‘Should’?
For most people, achieving success in anything is rarely a must.
They would like to lose weight, but it’s not a must. They would
love to make more money, but they won’t die without it. They
wish they could take charge of their lives, but they could live
without it.

The moment something becomes a ‘should’ instead of a
‘must’, you will rarely achieve it. You will always find a way to
put it off or to quit the moment you meet resistance.
People like Sylvester Stallone, Steven Spielberg or Donald
Trump who achieve success are not born more focused, more
disciplined or more lucky than the average person. What makes
them different is that they make their goals a must for themselves.
They are not willing to accept anything less than the best.

So let me ask you a question.

Are your dreams and goals an ABSOLUTE MUST or are they just
weak desires that you can live without? Have you been truly
committed to do whatever it takes in the past or are you ’should’-ing all over yourself?

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Decades in Days: Learn from the mistakes of others

I once heard this expression and it really had an impact on me. The term ‘decades in days’ refers to the fact that you can take literally decades of experience from someone else’s mistakes… and learn them in days.

You see, the very best minds in the world today and from the past usually have some record of what they’ve learnt, and how they got there. This may take the form of a book they’ve written, a program they’ve recorded or a seminar they’ve produced.

All it means is that it would take save you literally decades of going through all the mistakes yourself.

So, you must become a student of successful people. Study human psychology and success. It’s never taught in schools or universities, but it is crucial to understand how the mind works before you can begin to gain control over it.

When you start to understand how your inner programs are run, you will have the arsenal to begin re-programming your money-related programs, and tangible results will start to appear in your life.

Here are some key steps to begin educating yourself:

• Read books that nourish your mind.
• Find a mentor that you respect and want to model
• Study successful people in your industry
• Get a coach. Nothing compares to outside input and accountability
• Join a mastermind group – the momentum itself will carry you
• Attend seminars for ongoing ideas and network like mad!
• Study your past patterns and observe your past results

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